GMR Infrastructure approves up to Rs. 25 billion of convertible bonds

By Ashley Montgomery

Kansas City, Kan., Aug. 10 - GMR Infrastructure Ltd. informed the Bombay Stock Exchange that its board of directors approved an issue of foreign-currency convertible bonds in order to raise funds, according to a notice.

The board discussed options for raising funds at a meeting on Aug. 9. The issue maximum will be Rs. 25 billion.

The board also approved the issue of equity shares, global depositary receipts, American depositary receipts or other securities.

Bangalore, India-based GMR Infrastructure is a holding company.

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